Focus Partners Advisor Solutions LLC Buys Shares of 19,207 Exelixis, Inc. $EXEL

Key Points

• Focus Partners Advisor Solutions LLC has acquired 19,207 shares of Exelixis, Inc. valued at approximately $709,000 in the first quarter, highlighting growing institutional interest in the company.
• Wall Street analysts are optimistic about Exelixis, with a consensus rating of "Moderate Buy" and an average price target of $44.06, reflecting expectations for future growth.
• Exelixis reported a 10.8% decline in revenue year-over-year, with quarterly earnings of $0.75 EPS exceeding analysts' estimates of $0.63 but still below the previous year's results.

Focus Partners Advisor Solutions LLC acquired a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 19,207 shares of the biotechnology company's stock, valued at approximately $709,000.

Several other hedge funds also recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. grew its stake in shares of Exelixis by 2.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company's stock worth $287,794,000 after purchasing an additional 164,134 shares during the last quarter. Invesco Ltd. raised its position in shares of Exelixis by 40.2% during the first quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock valued at $205,725,000 after buying an additional 1,596,948 shares during the last quarter. Nuveen LLC acquired a new position in shares of Exelixis during the first quarter valued at about $123,310,000. Charles Schwab Investment Management Inc. raised its position in shares of Exelixis by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,321,407 shares of the biotechnology company's stock valued at $122,626,000 after buying an additional 69,054 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Exelixis by 7.0% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,657,782 shares of the biotechnology company's stock valued at $98,125,000 after buying an additional 173,387 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Trading Down 1.0%

NASDAQ EXEL traded down $0.38 on Wednesday, hitting $37.90. 325,338 shares of the company were exchanged, compared to its average volume of 2,989,371. The firm has a 50 day moving average of $40.38 and a two-hundred day moving average of $39.61. The company has a market cap of $10.20 billion, a P/E ratio of 18.26, a P/E/G ratio of 0.78 and a beta of 0.32. Exelixis, Inc. has a 1-year low of $25.17 and a 1-year high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.12. The business had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The firm's quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. Research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on EXEL shares. Jefferies Financial Group set a $50.00 price target on shares of Exelixis and gave the company a "buy" rating in a report on Tuesday, June 24th. Bank of America boosted their price target on shares of Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. JMP Securities reissued a "market outperform" rating and issued a $50.00 price target on shares of Exelixis in a report on Tuesday, July 29th. HC Wainwright lowered their price target on shares of Exelixis from $53.00 to $46.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Finally, Citigroup upped their target price on shares of Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Thirteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.06.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.